Home / Business / DoE: Power projects probe 74% done

DoE: Power projects probe 74% done

June 14, 2019

The Department of Energy (DoE) on Thursday said it has inspected 74 percent, or 53 of the 72 development projects hosted by various local government units (LGUs) under the Energy Regulations 1-94 (ER 1-94) Program.

The DoE has directed its Electric Power Industry Management Bureau — Rural Electrification Administration and Management Division (EPIMB-REAMD) to finish the inspection of the remaining 19 power projects within the year. This is governed by Department Circular DC2018-08-0021 which provides guidelines for the direct remittance of financial benefits to the host communities.

Under the ER 1-94 program, LGUs that accommodate energy resources and/or power generating facilities are entitled to financial benefits. Generation companies and/or energy resource developers should set aside P0.01 per kilowatt hour of electricity sales, with 50 percent of the total amount alloted for electrification fund.

“The Department has been working hard to complete the close-out of ER No. 1-94 projects so that the succeeding financial benefits will benefit the host communities directly,” Energy Secretary Alfonso Cusi said.

“The direct remittance of financial benefits to host communities would lead to a considerable increase in public sector projects to be realized by host LGUs and their distribution utilities, which would redound to the benefit of their respective constituents and customers,” he added.

Earlier this week, the DoE issued an advisory ordering gencos and DUs to open trust accounts to accelerate the release of funds to intended beneficiaries starting this year. In its advisory letter dated May 02, 2019, gencos and/or energy resource developers, DUs, designated beneficiaries, and indigenous cultural communities (ICCs)/indigenous peoples (IPs) are directed to open trust accounts or interest-bearing current accounts.

The creation of trust accounts shall be executed by a memorandum of agreement signed between the concerned gencos and/or developers and DUs/host local government units, and beneficiaries.

Three separate trust accounts shall be created for the following: electrification fund; development and livelihood fund; and reforestation, watershed management, health, and/or environment enhancement fund.

Credit belongs to : www.manilatimes.net

index.php

BSP chief to co-lead regional group

By MAYVELIN U. CARABALLO, TMT June 25, 2019 BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin …